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Spanco shines on introducing banking and financial services for rural citizens

11 Jun 2012 Evaluate

Spanco is currently trading at Rs. 68.90, up by 1.25 points or 1.85% from its previous closing of Rs. 67.65 on the BSE.

The scrip opened at Rs. 69.00 and has touched a high and low of Rs. 69.30 and Rs. 68.00 respectively. So far 1620 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 148.55 on 29-Sep-2011 and a 52 week low of Rs. 60.15 on 15-Dec-2011.

Last one week high and low of the scrip stood at Rs. 69.30 and Rs. 65.00 respectively. The current market cap of the company is Rs. 226.67 crore.

The promoters holding in the company stood at 40.70% while Institutions and Non-Institutions held 30.00% and 29.30% respectively.

Spanco has introduced banking and financial services for rural citizens through its network of common service centers (CSC) in Maharashtra. Deputy Zonal Manager of the bank inaugurated the first center with this service, which was rolled out in Vasai. The company is likely to launch this service across 10 districts of Maharashtra, where it operates CSC under National eGovernment plan (NeGP) - Thane, Raigad, Pune, Satara, Solapur, Ratnagiri, Sindhudurg, Mumbai, Sangli and Kolhapur.  

The company is also going to roll out these services in Punjab in the next phase. It aims to help customers in rural areas to access banking services such as cash deposits, withdrawals, remittances, loan facilities like Kisan credit card, agriculture loans and other loans.

Spanco is one of the leading telecom systems integration and IT services company in India. From providing telecom integration services to multinationals, Public Sector Units and India's vast defense sector. Spanco has evolved to extend its expertise into the dynamic space of Business Process Outsourcing and RFID.

Peers
Company Name CMP
eClerx Services 1631.05
Info Edge 1054.50
Firstsource Solution 239.25
Affle 3i 1468.10
Hinduja Global Soln. 426.90
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